Small business is a business that has a number of workforce is less than 50 persons, or on the basis of Act No. 9 of the year 1995 was the small business category that has a net worth at most us $200,000,000.00 (excluding land and buildings) ; sales at most Rp. 1,000,000,000.00; belonging to a citizen of Indonesia, not affiliation to other business entities (stand alone), and the shape of individual businesses, business entity, or cooperative.
When you consider some of the most popular reasons for starting a business, including having a unique business idea, designing career that has the flexibility to grow with you, work toward financial independence, and invest in yourself own-not surprising if small businesses are everywhere.
But not all small businesses are positioned for success. In fact, only about two-thirds of businesses with employees survive at least two years, and about half survive five years. So you might be in a real challenge when you decided to take the risk, throw out your work, and be a business owner. The stage is often set at the beginning, so make sure you follow all the steps needed when starting your business can establish the basis of success.
Here are 10 steps that are required to start a business successfully. Take one step at a time, and you’ll be on the road to a successful small business ownership.
In order for small businesses succeed, he must solve problems, meet the needs or offer something desirable market.
There are several ways to identify these needs, including research, focus groups, and even trial and error. As you explore the market, some of the questions you need to answer include:
- How can your business get into the market?
- Is there a need for a product/service that You anticipated?
- Who needs it?
- Are there any other companies that offer similar products/services now?
- What kind of competition?
- Don’t forget to ask yourself a few questions too about starting a business before you plunge.
2: perform the planning
You need a plan so that your business idea become a reality. The business plan is the blueprint that will guide your business from the initial stages through the establishment and ultimately business growth, and this is a must for all new business.
The good news is that there are many different types of business plans for various types of business.
If you intend to seek financial support from investors or financial institutions, traditional business plan is a must. Types of business plans are generally long and thorough and has a set of common parts you’re looking for investors and banks as they validate your ideas.
If you do not anticipate to find financial support, a simple one-page business plan can give clarity about what you expect and how you plan to do so. In fact, you can even create a business plan that works on the back of a napkin, and fix it from time to time. Some sort of plan in writing is always better than nothing.
3: plan your finances
Starting a small business does not have to require a lot of money, but would involve some initial investment as well as the ability to cover the costs of continuing before you turn a profit. Arrange the spreadsheet that estimates a one-time startup costs for your business (license and permit fees, equipment, legal, insurance, branding, market research, inventory, trademarks, opening event, rental property, etc.), as well as what you anticipated, You need to run your business for at least 12 months (rent, utilities, marketing and advertising, production, inventory, travel costs, employee salaries, the salary of your own, etc.).
4: select a Business Structure
Your small business can be an individual, partnership, limited liability company (LLC) or a corporation. Business entity you choose will affect the many factors of your business name, Your liability above, how do you file your taxes.
You can choose the business structure of the beginning, and then re-evaluate and change Your structure along the growth and needs of your business.
5: Select and Register your business name
The name of your business is role in almost all aspects of your business, so You want it to become a good business. Make sure you think through all the implications of potential while you explore your options and choose the name of your business.
After choosing a name for your business, you need to check whether it’s a trademark or is in use. Then, you need to register it. A sole owner must register their business with the State or county employee they. The company, an LLC, or limited partnership usually register their business name when document formation asked.
6: get licenses and Permits
The document is part of the process when you start your own business.
There are various small business license and permissions that may apply to your situation, depending on the type of business you’re starting and where you are. You need to examine a license and permit what applies to your business during the start up process.
7: choose accounting system
Small businesses running is most effective when there are existing systems. One of the most important system for small business is the accounting system.
Accounting system You are required to create and manage your budget, set prices and prices, doing business with other people, and filing your taxes. You can set up your own accounting system, or hire an accountant to eliminate some of these allegations. If you decide to start your own, make sure you consider these questions that are important when choosing accounting software.
8: set the location of your business
Prepare Your business is important to the operation of your business, whether you will have an Office at home, shared or private office space, or retail locations.
You have to think about the location, equipment, and overall your settings, and make sure the location of your business according to the type of business you are going to do. You also need to consider whether it makes more sense to buy or lease your commercial space.
9: create a Team
If you will hire employees, now’s the time to start the process. Make sure you take the time to decipher the positions you need to fill in, and responsibility for the work as part of their respective positions. Small Business Administration has a great guide to hiring your first employee that is useful for small business owners.
If you are not hiring employees, rather than work for independent contractors, it is time to work with a lawyer to get Your independent contractor agreement and start your search.
Lastly, if you’re a solopreneur true headed into the path of a small business, you may not require an employee or contractor, but you still need the support team of your own. This team can consist of small business coach, mentor, or even your family, and serve as a source of entry for advice, motivation and finality when the road becomes bumpy.
10: Promote your small business
So your business is running and running, you need to start attracting clients and customers. You want to start with the basics by writing a unique selling proposition (USP) and create a marketing plan. Then, explore the idea of marketing a small business as much as possible so you can decide how to promote your business with the most effective.
That’s the step step to start your own business. With the belief that you could and can certainly desist.
From the author of keep the spirit and fight always and also hopefully this article can help